Smithfield Foods, Inc. (NASDAQ:SFD – Get Free Report) reached a new 52-week low on Wednesday. The stock traded as low as $18.48 and last traded at $18.4950, with a volume of 1357706 shares trading hands. The stock had previously closed at $18.78.
Analyst Ratings Changes
Several equities analysts have commented on the company. Zacks Research lowered Smithfield Foods from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Barclays decreased their price target on shares of Smithfield Foods from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. The Goldman Sachs Group reissued a “buy” rating and set a $32.00 price objective on shares of Smithfield Foods in a research note on Wednesday, August 12th. Bank of America cut their price objective on shares of Smithfield Foods from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. Finally, Stephens began coverage on shares of Smithfield Foods in a research note on Wednesday, September 30th. They set an “equal weight” rating and a $22.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Smithfield Foods currently has an average rating of “Hold” and an average price target of $29.20.
Read Our Latest Report on Smithfield Foods
Smithfield Foods Stock Performance
Smithfield Foods (NASDAQ:SFD – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $3.70 billion for the quarter. Smithfield Foods had a net margin of 6.84% and a return on equity of 15.55%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. Sell-side analysts anticipate that Smithfield Foods, Inc. will post 2.12 EPS for the current fiscal year.
Smithfield Foods Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a $0.3125 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.25 dividend on an annualized basis and a yield of 6.8%. Smithfield Foods’s payout ratio is 46.64%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. CX Institutional lifted its position in Smithfield Foods by 15,876.9% during the third quarter. CX Institutional now owns 4,154 shares of the company’s stock valued at $78,000 after purchasing an additional 4,128 shares in the last quarter. Core Capital Management & Research inc. bought a new position in shares of Smithfield Foods in the second quarter worth about $6,656,000. Engineers Gate Manager LP raised its stake in shares of Smithfield Foods by 2,584.3% in the second quarter. Engineers Gate Manager LP now owns 351,055 shares of the company’s stock worth $8,517,000 after buying an additional 337,977 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Smithfield Foods during the 2nd quarter valued at about $157,000. Finally, IFP Advisors Inc lifted its position in shares of Smithfield Foods by 136.4% during the 2nd quarter. IFP Advisors Inc now owns 3,815 shares of the company’s stock valued at $93,000 after buying an additional 2,201 shares in the last quarter.
About Smithfield Foods
Smithfield Foods, Inc is a vertically integrated food company focused on pork production and packaged meats. Its operations include raising livestock, processing and packaging pork, and distributing fresh pork and prepared foods. The company’s products include bacon, ham, sausage, hot dogs, lunch meats, fresh pork cuts and other refrigerated and shelf-stable meat products.
Smithfield markets products under brands including Smithfield, Eckrich, Farmland, Nathan’s Famous and Healthy Ones, as well as private-label offerings for retailers and food-service customers.
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